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Prince's $156 million Estate to be Split Evenly Between Music Publisher Primary Wave and Star's Three Eldest Siblings

jimieye  CC BY 2.0, via Wikimedia Commons
It has been over six years since the cremation of Prince following his death at home from an accidental fentanyl overdose at the age of 57.

The question, however, of who would control and benefit from the estate of the legendary singer — who died without a will — was not put to rest until Monday.

A Minnesota judge signed off on a deal that authorizes the division of the $156 million estate evenly between two legal entities.

It will be split evenly between Primary Wave, a well-funded New York music company, and three of Prince's six heirs and their families and advisors.

According to court documents, Prince Oat Holdings LLC — owned by Primary Wave — consists of interests once held by half-siblings Tyka Nelson, Omarr Baker and Alfred Jackson, as well as three separate entities owned by the publishing company.

Prince Legacy LLC's membership consists of Prince's eldest half-siblings, Sharon Nelson, John Nelson and Norrine Nelson, as well as their advisors L. Londell McMillan and Charles Spicer.

The decision was made possible by the parties finally coming to a settlement on the value of the estate, originally appraised at $82.3 million by the estate’s administrator, Comerica Bank & Trust, in January.

Under Minnesota law, the six half-siblings were named his heirs when he died with no living children or spouse to claim his estate.

As part of the agreement, the heirs, and their advisors, along with Primary Wave will split $6 million in cash and potentially many times that in music rights and other valuable intangibles.

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